Oasis Petroleum Inc. (OAS) Stock Price Down 5.3%
Oasis Petroleum Inc. (NYSE:OAS)’s share price was down 5.3% during trading on Wednesday . The company traded as low as $8.77 and last traded at $8.84, with a volume of 6,688,349 shares. The stock had previously closed at $9.33.
A number of equities analysts have commented on OAS shares. Vetr lowered Oasis Petroleum from a “strong-buy” rating to a “buy” rating and set a $9.00 price objective on the stock. in a research note on Thursday, March 17th. Deutsche Bank AG reaffirmed a “hold” rating and set a $10.00 price target (up previously from $5.50) on shares of Oasis Petroleum in a research note on Wednesday, March 23rd. Goldman Sachs Group Inc. upped their price target on Oasis Petroleum from $7.25 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, March 29th. Seaport Global Securities raised Oasis Petroleum from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.00 to $10.00 in a research note on Wednesday, March 30th. Finally, Citigroup Inc. reaffirmed a “hold” rating and set a $9.50 price target (up previously from $7.50) on shares of Oasis Petroleum in a research note on Thursday, April 7th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.66.
The firm’s market capitalization is $1.58 billion. The stock’s 50 day moving average price is $9.85 and its 200-day moving average price is $7.82.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.01. The company earned $130.30 million during the quarter, compared to analyst estimates of $175.01 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was down 27.8% compared to the same quarter last year. Equities analysts anticipate that Oasis Petroleum Inc. will post ($0.70) EPS for the current year.
In related news, COO Taylor L. Reid sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $10.15, for a total transaction of $507,500.00. Following the transaction, the chief operating officer now directly owns 1,231,981 shares of the company’s stock, valued at approximately $12,504,607.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of hedge funds recently modified their holdings of OAS. Swiss National Bank raised its stake in shares of Oasis Petroleum by 1.2% in the fourth quarter. Swiss National Bank now owns 165,500 shares of the company’s stock worth $1,220,000 after buying an additional 1,900 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Oasis Petroleum by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 257,945 shares of the company’s stock worth $1,901,000 after buying an additional 4,114 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Oasis Petroleum by 1.5% in the fourth quarter. New York State Common Retirement Fund now owns 264,575 shares of the company’s stock worth $1,950,000 after buying an additional 3,900 shares in the last quarter. Quantitative Investment Management LLC raised its stake in shares of Oasis Petroleum by 94.1% in the fourth quarter. Quantitative Investment Management LLC now owns 315,600 shares of the company’s stock worth $2,325,000 after buying an additional 153,000 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Oasis Petroleum by 38.7% in the fourth quarter. Morgan Stanley now owns 354,402 shares of the company’s stock worth $2,613,000 after buying an additional 98,830 shares in the last quarter.
Oasis Petroleum Inc is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.
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